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Del Frisco’s plans new debt financing for buyout by L Catterton
By Sara Rosenberg
New York, June 24 – Del Frisco’s Restaurant Group Inc. has received a commitment for debt financing to help fund its acquisition by L Catterton, according to an 8-K filed with the Securities and Exchange Commission on Monday.
Other funds for the transaction will come from equity.
Under the agreement, Del Frisco’s is being bought for $8.00 per share. The transaction is valued at about $650 million.
Closing is expected by the fourth quarter, subject to approval by Del Frisco’s stockholders, expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary conditions.
Credit Suisse served as financial adviser to L Catterton.
Del Frisco’s is an Irving, Tex.-based restaurant company.
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